Cape Verde: GDP expected to rise 10.8 percent in 2007

16 November 2007

Praia, Cape Verde, 16 Nov – Cape Verde’s gross domestic product (GDP) is expected to see growth of 10.8 percent this year, according to projections from the archipelago’s National Statistics Institute (INE), published Thursday in Praia.

The dynamic growth of the construction and public works sectors, which grew 14.4 percent in 2005 and 14 percent in 2006, followed by industry and energy (9 and 7 percent, respectively), the financial sector (22 percent) and commerce contributed to GDP growth, INE said, cited by Cape Verde news agency Inforpress.

According to figures from INE, the construction and public works sector rose, driven both by public works and the private real estate sector.

For the financial sector, namely banking and insurance, INE noted growth of 22 percent. (macauhub)